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US stocks rally despite record unemployment claims

The gains cap the best three-day streak for the Dow and S&P 500 since the Great Depression.

The number of people in the US seeking jobless benefits jumped to nearly 3.3 million last week.

Employment rises to all-time high, while wage growth slows less sharply from August to October.

Average earnings increased by 3.6% over the three months to September, while unemployment fell by 23,000.

The figures come amid fears that recent weak economic data points to the US heading for recession.

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